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GraphLab Morphs into Dato with $18.5 Million in Funding

dato_logoGraphLab announced it closed an $18.5 million Series B funding round led by Vulcan Capital with participation from Opus Capital and existing investors New Enterprise Associates (NEA) and Madrona Venture Group. The company has also changed its name and brand from GraphLab to Dato, reflecting the evolution of its popular machine learning platform which now enables the creation of intelligent applications based on any type of data, including graphs, tables, text and images. Dato will use the investment to expand its business development, engineering and customer support teams to serve a rapidly growing customer base. The Series B round brings the total amount raised by Dato to $25.25 million. Steve Hall from Vulcan Capital will join Dato’s board of directors.

At Pandora, we use and investigate a lot of new machine learning and big data tools,” said Oscar Celma, director of research at Pandora. “GraphLab Create helps us iterate on ideas for new product features faster and at large scale.”

Intelligent applications, built with the power of machine learning technologies, are changing the way companies drive revenue and deepen customer relationships. Marquee companies including Adobe, Zillow, PayPal and Cisco, among others, recognize the power of Dato’s platform for building predictive applications such as item recommendations, sentiment analysis and fraud detection.

Our company was founded on a mission to create a more intelligent world. The investments made in Dato will help us empower many more data scientists, software developers and engineers to revolutionize industries and enhance our lives in ways we can’t imagine. We are delivering a complete environment that makes data science and its benefits accessible to every business,” said Carlos Guestrin, CEO, Dato.

The company’s funding announcement comes on the heels of the release of Dato’s first commercial offering, GraphLab Create. Born out of the popular open source GraphLab project, the underpinning of Dato’s platform is a highly scalable machine learning engine optimized for production environments. Built on top of this engine is a broad set of solution toolkits and deployment options that provide a fast and easy way for data scientists and application developers to embed predictive capabilities into their applications. This means a shorter time to value for firms of any size with aspirations to unleash the power of machine learning across their data and applications.

Dato is filling a huge market gap by bringing together the ease of use and computing scale that make it possible for one data scientist or developer to do the job of many. The company is growing, Dato’s customers are innovating at an astonishing pace, and we are committed to the passionate group of people working to propel the field of intelligent applications forward,” Steve Hall, Managing Director, Vulcan Capital.

 

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